Hyperliquid (HYPE) is 1509072.2× the size of Bloom Terminal (BLOOM) by market capitalisation. Their daily returns move barely together (correlation 0.04 across 33 shared trading days). BLOOM has been the more volatile of the two, at 283% annualised against HYPE's 83%.
BLOOMHYPE
0.04over 33 shared trading days
Measured on daily returns rather than on prices. Two assets that both simply trend upward score near 1.0 on raw prices whether or not they move together, so returns are what answer the question people mean by correlation.
| Metric | BLOOM | HYPE |
|---|---|---|
| Max drawdown (400d) | -70.5% | -18.9% |
| Risk-adjusted return (90d) | -0.25 | 0.40 |
Relative strength over 90 days: HYPE outperformed BLOOM by 66.2% — measured on the BLOOM/HYPE ratio, so it holds regardless of market direction.